EMC net income climbs 27%

SteveGelsi

NEW YORK (MarketWatch) -- EMC Corp.
EMC, -0.65%
on Tuesday reported fourth-quarter net income of $409 million, or 17 cents a share, up 27% from $321 million, or 13 cents a share in the year-ago period. Revenue climbed 15% to $2.71 billion. A survey of analysts by Thomson First Call forecast earnings of 17 cents a share and revenue of $2.693 billion. Including charges, net income for the quarter was $148 million or 6 cents a share. "Our combined software businesses had their first billion-dollar quarter and our market-leading midrange storage systems had their best quarter ever," the company ssid. Including an impact of 3 cents a share for the effect of FAS 123R, first-quarter earnings are expected to be 11 cents a share. Analysts are expecting 14 cents. Shares of EMC closed at $13.26 on Monday.

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